M Vijay v. Axis Bank
Case brief
What is this about?
Debts Recovery Tribunal dismissed a securitization application filed by a borrower challenging a bank's sale notice. The Tribunal held the application infructuous because the sale scheduled for the near future could not be held, rendering the prayer useless.
What did the court decide?
Application for setting aside the sale notice dismissed as the sale became infructuous.
What the court decided
SA No.98/2025 (C)
05.02.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 05th of February, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
SARFAESI APPLICATION No. 98 of 2025
M. Vijay S/o Moorthy No.106, 1st Street V.V. Nagar, Tiruvallur Road Boochi Athipattu (Village & Post) Tiruvallur District Chennai – 600 052 ….Applicant -Vs-
The Authorised Officer, Axis Bank Limited 2nd Floor, Door No.31, Old No.14 South Mada Street, Mylapore Chennai – 600 004 ….Respondent
Counsels on record / appeared:
Counsel for Applicant : Sh. B. Ramaratnam Counsel for Respondent : M/s Kvp Deepak Raj
Issues for consideration
2 issues framed by the court
Whether the present Securitization Application is maintainable given that the applicant failed to challenge the possession notice within the statutory 45-day period.
Whether the application remains valid for challenging the sale notice after the sale has become infructuous.
Parties & counsel
- applicant
M. Vijay
- respondent
Axis Bank Limited
Coram
S.V. Gowramma
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court